NSTLAW has advised the EBRD on preparing a Business Re-organisation Assessment for Montenegro.
According to NSTLAW, “this assessment focusses on the re-organization procedure according to Montenegrin legislation. In this way, the bank and investors are informed about what they can expect when investing in a company in reorganization. According to the assessment, the average duration of business reorganization in Montenegro is from six to nine months. Further, according to the data available from the website of the Commercial Court in 2020, there were 437 initiated bankruptcy proceedings, while there is no indication of the number of initiated re-organization proceedings.”
NSTLAW’s team included Partner Nenad Stankovic, Junior Associate Jelena Zivkovic, and Legal Trainee Teodora Markovic.